Far North Fiber (FCF) has secured its first investor for its Arctic submarine cable project.
The consortium behind the $1.15 billion scheme revealed that NORDUnet has signed a Letter of Intent with FNF to become the project's first investor.
The FNF cable project will become the first to lay a submarine cable on the Arctic seabed, and will be 14,000 km long, connecting Europe to Asia, via North America.
It is a joint venture between Cinia, US-based Far North Digital and Japan's Arteria Networks, and is set to feature 12 fiber pairs.
This cable will extend from the Nordic countries to Japan, passing through Greenland, Canada and Alaska. It is expected to reduce delays between Frankfurt, Germany and Tokyo, Japan, by 30 percent.
No exact figure was given for the investment, although Reuters notes that a pair of fibers was worth around $100 million, with an additional $100 million in maintenance costs required over its 30-year lifespan, according to one source.
“This project, once realized, will enhance the collaboration landscape between research and education partners in the Nordic countries, Europe, North America and Japan. Furthermore, it will boost Nordic regional development and significantly improve European digital sovereignty,” said NORDUnet CEO Valter Nordh. .
If successful, it will become the first submarine cable system on the Arctic seabed, but not the first attempt to do so.
Post time: Dec-14-2022
